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On May 11, 2021, Arkansas Senator Tom Cotton unveiled his latest proposal to take a bite out of the education-industrial complex. His Ivory Tower Tax Act would establish 1% tax on the value of the endowments of the wealthiest private universities in America to help fund vocational education and training.
He tweeted, “Our wealthiest universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas. My bill will tax mega-endowments to support training programs to create high paying, working-class jobs.” In addition, Cotton’s bill would also require “these institutions to draw down five percent of the value of their endowments each year”, according to a press release from Cotton’s office. The bill’s text can be found here .
“Our wealthiest colleges and universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas. This bill will impose a tax on university mega-endowments and support vocational and apprenticeship training programs in order to create high paying, working-class jobs,” declared Cotton.
The Ivory Tower Tax Act does the following: Levy a one-percent tax on the fair market value of endowments held by the richest private colleges. The tax would apply to private colleges that 1) have more than 500 full-time enrolled students, 2) have endowments worth more than $2.5 billion and $500,000 per full-time enrolled student, 3) do not have a religious mission.
Generate an estimated $2 billion in revenue per year, which would be redirected to support vocational and apprenticeship training programs.
Require the richest private colleges to distribute at least five percent of their endowment to support their educational mission per year, or else face a penalty. This requirement mirrors the tax treatment of private foundations.
Cotton’s bill is a good first step in taking the fight to the higher education establishment. As far as the friend-enemy distinction is concerned, universities are the clear enemies in this culture war.
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Beyond that, the Right should try to draw from America’s historical roots and promote other non-state educational alternatives such as private schooling, homeschooling, educational cooperatives, and other localized forms of education. […]
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Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
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